Bartlett & Co. LLC Makes New $639,000 Investment in IDEX Co. (NYSE:IEX)

Bartlett & Co. LLC bought a new position in shares of IDEX Co. (NYSE:IEX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,900 shares of the industrial products company’s stock, valued at approximately $639,000.

Several other hedge funds have also recently bought and sold shares of IEX. Invesco Ltd. grew its holdings in shares of IDEX by 69.3% during the 2nd quarter. Invesco Ltd. now owns 1,469,664 shares of the industrial products company’s stock worth $252,989,000 after acquiring an additional 601,539 shares during the period. Victory Capital Management Inc. grew its stake in shares of IDEX by 766.4% in the 2nd quarter. Victory Capital Management Inc. now owns 239,011 shares of the industrial products company’s stock worth $41,144,000 after buying an additional 211,424 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of IDEX by 358.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 246,582 shares of the industrial products company’s stock worth $42,446,000 after buying an additional 192,795 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of IDEX by 97.5% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 364,534 shares of the industrial products company’s stock worth $62,751,000 after buying an additional 179,980 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of IDEX by 2.0% in the 2nd quarter. BlackRock Inc. now owns 8,206,026 shares of the industrial products company’s stock worth $1,412,586,000 after buying an additional 157,873 shares during the last quarter. Hedge funds and other institutional investors own 95.25% of the company’s stock.

IEX has been the topic of several recent research reports. ValuEngine downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Rosenblatt Securities initiated coverage on IDEX in a research note on Thursday. They issued a “buy” rating and a $185.00 price target on the stock. Wells Fargo & Co cut their price target on IDEX from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus upped their price target on IDEX from $157.00 to $162.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Citigroup initiated coverage on IDEX in a research note on Monday, September 30th. They issued a “neutral” rating and a $175.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. IDEX presently has an average rating of “Hold” and a consensus target price of $174.14.

In related news, Director William M. Cook sold 4,080 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $161.93, for a total value of $660,674.40. Following the transaction, the director now directly owns 22,308 shares of the company’s stock, valued at approximately $3,612,334.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eric D. Ashleman sold 2,922 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $165.75, for a total value of $484,321.50. Following the completion of the transaction, the chief operating officer now directly owns 22,453 shares in the company, valued at $3,721,584.75. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

IDEX stock opened at $159.62 on Friday. The company has a quick ratio of 2.39, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $12.21 billion, a P/E ratio of 29.50, a PEG ratio of 2.76 and a beta of 1.21. The stock’s 50 day moving average is $159.81 and its 200 day moving average is $161.59. IDEX Co. has a twelve month low of $117.72 and a twelve month high of $173.84.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.06. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $641.66 million. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. As a group, equities analysts expect that IDEX Co. will post 5.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $0.50 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.00 annualized dividend and a yield of 1.25%. IDEX’s dividend payout ratio (DPR) is presently 36.97%.

IDEX Company Profile

IDEX Corporation, through its subsidiaries, operates as an applied solutions company worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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